Our forefathers wisely decided that our capital should not be in one specific state. So they carved land out of Maryland and Virginia and created Washington DC (District of Columbia). As you might guess it was named in honor of our first president. And the name Columbia honors Christopher Columbus.
The city consists of just 68.25 square miles making it far smaller than any U.S. state. However, as of 2013 the District had a population of 646,440, which made it more populous than two of our states – Vermont and Wyoming.
The Library of Congress is located in Washington. It is the largest in the country with 535 miles of bookshelves. Its reading room alone has 45,000 reference books.
You might think of Seattle as a really rainy city but Washington, DC averages 39 inches of rainfall a year, which is actually more than what Seattle gets.
The city is divided into four quadrants – Northwest, Southwest, Northeast and Southeast. Our Capital building marks the center of the city and it is where the four quadrants meet. As you might guess, the city’s largest industry is government.
DC’s unemployment rate is currently 8.9%, which puts it higher than the national average of 7.3%. Residents of the District have an average of $5,499 in credit card debt versus the US average credit card debt of $5235 per borrower. The district’s average credit score is 659 or somewhat lower than the US average score of 685. Moreover, the average mortgage in Washington DC is about $298,000, compared to a national average of $170,000.
Household incomes may be falling in most states but not in DC. Between the years 2000 and 2012, DC household income rose 23% to an inflation-adjusted $66,583. During this same period of time, median household income for the US as a whole dropped 6.6% or from $55,030 to $51,371. However, the District’s percentage of home ownership is just 42.4% or well below that of the United States, which has an average homeownership rate of 65%. Of course, a lot of that has to do with the fact that so many Washingtonians live in rented apartments.
Washington, DC is still mostly a government town as the federal government is the district’s largest employer with 467,000 people or roughly 14% of the region’s workforce. However, it is no longer the largest segment of the district’s total workforce as it is Professional, Scientific and Technical Services. This sector accounts for more than half a million jobs or a full 15% of the metro area’s workforce.
In addition, the greater DC area has about 300,000 healthcare and social assistance jobs, nearly 110,000 private educational service jobs and 76,000 information jobs.
Debt Reduction & Debt Negotiation in Washington D.C.
Washington D.C. Debt Negotiation Laws
We are pleased to inform the residents of Washington D.C. that our debt relief services are available in your state! There is help for those struggling with unsecured debts. Our debt consultants are always ready to speak with you and give you a free consultation – you can call now:
We provide debt negotiation and debt management services in the state of Washington D.C. Credit card debt negotiation is a great program for reducing your debts with your creditors into one low monthly program payment. This method works because you pay less yet the creditor still recovers some of their loss had you gone bankrupt.
However, you may not have to even apply for credit card debt negotiation if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.
(This is intended to be a helpful and informational debt resource for Washington D.C. consumers and does not constitute legal advice.)
Washington D.C. follows the set of federal laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA).
District of Columbia Wage Protection: 75% of net earnings
-Original creditor or creditor collecting own debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures. (For example, the original creditor does not have to verify the debt’s validity).
-Debt collector cannot:
use the words “District of Colombia” or “D.C” to imply that it is an instrument of the federal government.
attempt to convince the debtor to pay debt discharged in bankruptcy without clearly disclosing the nature and consequence of agreement and fact that debtor is not legally obligated to pay debt.
attempt to collect collection agency’s fee
-Maximum Interest Rate a Collection Agency Can Charge in District of Columbia: 6%
Statute of Limitations
A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but currently live in Washington D.C., the applicable statutes of limitations would be Texas’).
Oral Agreements: 3 years
Written Contracts: 3 years
Promissory Notes: 3 years
Open Accounts (credit cards): 3 years
Whether you have unsecured credit cards, medical bills, personal loans or collection accounts, there’s help for you. The National Debt Relief Group offers a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.